Discussion:
Visit the Wall Street Journal and other similar sites as may be appropriate. Read at least two articles about the current state of the economy and consider how the economy may be influencing your life. What significant economic issue has the most impact on you? Has a similar economic condition happened in the past? What is the likelihood it could happen again? What should you do to prepare for the next period of economic challenge? Post to the discussion board your 200 word answer. Your answer should focus on selecting and organizing your most relevant comments in a coherent fashion. Respond to at least two of your classmates' postings.
Review and prepare a personal balance sheet following the example from Exhibit 3-3. Consider how you might shift, through savings and debt reduction, liabilities to assets. Next, prepare a well-disciplined household budget that can lead you to your goals. Once you have completed the exercise, discuss what you learned in this discussion forum. What are the areas where savings or reductions could help you? How long will it take? Are your goals reasonable, considering your resources? Please note that there is no need to post your personal balance sheet in this forum. Respond to at least two of your classmates' postings.